The concepts of NMOG (New Month Opening Gap), NWOG (New Week Opening Gap), and NDOG (New Day Opening Gap) are foundational in defining critical areas on the chart where price is highly likely to react. These opening gaps have a strong tendency to act as support and resistance zones where price can bounce off, slice through, or retest as it moves from one gap level to the next. Within these gaps, the primary areas of interest are the High, the Low, and the Consequent Encroachment (C.E.)—which represents the exact 50% midpoint between the gap's high and low. For wider gaps, traders should also monitor granular sub-levels, specifically the Quadrants and the Eighths (Octants).
2. Logic
This indicator systematically maps historical and current gaps to automate technical structure for the trader. The core logic executes the following:
2.1. New Month Opening Gap (NMOG) Tracks the gap between the previous month's close and the new month's open.
2.2. New Week Opening Gap (NWOG) Tracks the gap between Friday's close and Sunday's open.
2.3. New Day Opening Gap (NDOG) Tracks the gap between yesterday's close and today's open. Split into Extended Trading Hours (ETH) and Regular Trading Hours (RTH) for precision.
2.4. Event Horizon (EH) Automatically calculates and plots the 50% (C.E.) distance between ANY two consecutive inefficiencies (e.g., between two NWOGs). Price tends to react heavily to this EH line, utilizing it as a Premium/Discount divider between gaps.
2.5. Sub-level Auto-Filtering Incorporates a dynamic "Minimum Range Filter". This logic automatically hides Quadrants and Eighths if a gap is too narrow, preventing visual chart clutter, and only reveals them when the gap size meets your designated point/dollar threshold.
Historical Count: Define the maximum number of historical gaps displayed on the chart (e.g., ICT recommends a minimum of 5 for NWOGs).
Colors and Line Styles: Customize the borders and the C.E. line. Assign distinct colors to separate the "Current" gap from "Previous" gaps.
Backgrounds: Toggle shaded box fills for the gaps and assign independent color schemes.
3.2. Extend Configuration
Always: Extends all plotted gaps infinitely across the chart.
Above and below only: Dynamically tracks price to show only the immediate two gaps directly above and below the current price.
Any that is near current price: Displays any gaps situated near the current price action, which may result in overlapping zones.
3.3. Quadrants & Octants
Quadrant Levels: Toggle the 25% and 75% internal gap lines.
Octants Levels: Toggle the 12.5%, 37.5%, 62.5%, and 87.5% lines.
Min Filter (points): Input a minimum gap range (in full points/dollars) required to plot Quadrants and Octants.
3.4. Labels & Tooltips
Chart Labels: Toggle general text annotations.
Label Data: Choose to display Gap Name, Gap Date, Gap Size, Price, Level Fractions (/), Level Decimals (.), and Level Percentages (%).
Hover Tooltips: A clean UI feature allowing you to hover your mouse over any gap boundary or label to reveal a tooltip containing the exact Name, Price, Date, and Size.
3.5. Event Horizon Settings
Toggle: Turn the EH line visibility between gaps on or off.
Styling: Adjust the specific color, line style, and thickness of the Event Horizon.
3.6. Advanced Calibration
Number of candles to use in calculation: Analyzes recent candle sizing to derive price proximity (recommend 14 for current price action focus).
Factor multiplier: Adjusts sensitivity for "near current price" gap rendering (10 to 20 for day trading, 5 to 10 for swing trading).
Buffer: Defines how many blank candles into the future the gap lines project, ensuring a clean and readable visual layout.